OREANDA-NEWS. Expert RA rating agency confirmed 'Kursk Region Mortgage Agency' ('KOIA' OJSC) mortgage loan support agent service quality rating A, which means high service quality.

Extensive experience in mortgage support under the Mortgage Housing Lending Agency's (more than 9 years on the market) standards and high regulation of the support business had a positive impact on the Company's rating. The Agency also highlighted acceptable mortgage portfolio diversification by programs (the Company supports loans under its own programs, the Mortgage Housing Lending Agency's programs and the refinancing company programs) and availability of ISO certificate for the mortgage support business process.

The inadequate risk management and low automation of business processes are the factors having a negative impact on the rating. 'During 2013, the Company plans to implement the electronic document processing system', adds Mr. Stanislav Volkov, Head, Lending Institution Rating Division at 'Expert RA'. 'In addition, the level of past due debt for the Company's loan portfolio (more than 1% as of April 1, 2013) is higher than the regional average (0.4% for the Kursk Region as of March 1, 2013).

'Kursk Region Mortgage Agency' OJSC provides, supports and refinances mortgage loans and carries out appraisal of mortgages in the Kursk Region. As of April 1, 2013, RUB 907.5 million mortgage portfolio was supported by the Company.